It was another fine REA result, with operating profit growth in the second-half accelerating to 31%, from 26% growth in the first half.
Of course, it warrants remembering that both halves of FY2024 have been cycling two weak corresponding periods in FY2023:
But overall a very solid result which some could argue justifies the lofty valuation of the stock.
(Or, in the glass half-full view, in order to sustain the lofty valuation, these sorts of results are very necessary and anything less would induce a de-rating of the valuation multiple).
When a stock is trading at almost 50x, everyone can write his or her own adventure.
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REA Price at posting:
$196.68 Sentiment: None Disclosure: Held
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